Obama Millionaire's Tax: President To Seek New Tax Rate For Wealthy

[AVG-JOE]

The poor get poorer.

God forbid we address the issue of poverty. Much easier to demonize them.

The Great War On Poverty has existed for 50 years.
For the last 45 years the poverty rate has remained between about 11.5% and 15.3%. That's not much of a difference. Guess what the current poverty rate is?

And the war on drugs has been going 30 years. All that proves is that America is a lot less adept at social wars than they are at shooting wars. Predictable, when you think about it.

 

[BDBoop]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

 

[WillowTree]

I am for taxing those 47% that pay no federal income tax yet enjoy the benefits that the rest of us get to pay for. I am for a flat tax, you make a dollar, you pay .10 you make 100 you pay $10, that's the only way it is fair. Buffet is 88 years old, most likely not too together anymore has other people with a brain still left managing his assets and he has Obama presurring him to say stupid stuff, just like the pressure for Solyndra and Lightguard, he gets his minions in there to arm bend. Taxing the wealthy will do nothing to help create jobs, because the government just took money away from the very people they expect to spend the money to create more jobs.

You know why they aren't taxed federally? Because it would take consumers out of the economy. They would only save save save for end of the year taxes and everything would go purely into taxes.

That isn't an option.

It absolutely should be, why is it fair that I pay more taxes on my income than someone else does on theirs. I work just as hard, maybe harder, more hours, yet I am penalized for my hard work and someone else is rewarded for not working as hard. What's fair about that? They take money from me, am I not a consumer too? because I am. I would consume more if the government quit taking so much of my money. What makes them different from me?? We both are consumers.

 

[WillowTree]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

they pay theirs,, 50% of you bastard leeches pay zero. that makes your opinion zero as well.

 

[oreo]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

Do you pay your fair share? And what do you consider to be fair? HOW MUCH.

 

[Missourian]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

A fair share calculated by dividing the budget by the population of working age citizens and each person owns that amount.

<Patiently waiting for you to bitch about it>

 

[Dragon]

Class warfare pure and simple.

"Class warfare" is used by the rich to describe the non-rich fighting back.

 

[Missourian]

Class warfare pure and simple.

"Class warfare" is used by the rich to describe the non-rich fighting back.

Fighting back against what, people wanting to keep the money they've earned?

G-d forbid.

 

[WillowTree]

Class warfare pure and simple.

"Class warfare" is used by the rich to describe the non-rich fighting back.

class warfare is used to take from the givers and give to the takers.. you be a taker I assume.

 

[grunt11b]

Herman Caine says it best.

Herman Cain Defends His '999' Tax Proposal - Fox News Video - Fox News

 

[Moonglow]

u r aware that Obama is volunteering a tax increase upon himself?

 

[grunt11b]

u r aware that Obama is volunteering a tax increase upon himself?

Of course he is, it's not costing him a dime, we are the ones paying for it. His salary is paid for by the tax payer, so it's not costing him anything, it's costing us.

 

[Moonglow]

So Obam pays no taxes?

 

[The Rabbi]

Class warfare pure and simple.

"Class warfare" is used by the rich to describe the non-rich fighting back.

Actually class warfare is used by rich Democrats to fight against Republicans.

 

[chanel]

Paul Ryan has responded to the proposal (Ryan: Obama's 'Buffe
tt Rule' is class warfare), using arguments predictable enough that many in this thread have anticipated them. He calls it "class warfare" and "bad economics", and says that it will lead to more uncertainty and fewer jobs.

Obama's proposal is clearly good politics. By asking only that millionaires pay at least the same percentage of their income as less wealthy Americans, he places the "fairness" argument firmly on his side. As we saw during the debates over extending the Bush tax cuts, the American people firmly support new taxes on the wealthy. Given the new emphasis on deficit reduction, that support has probably gone up (although perhaps not). As an added bonus, Republican candidates for President will probably have to take some sort of position now, which they largely avoided during the debt ceiling debates.

Economically, the plan also makes perfect sense (except in that it doesn't go far enough):

-- Raising taxes on the wealthy relative to the nonwealthy shifts consumption towards necessities and away from luxuries

-- Taxing investment income as normal income removes the distortionary effect which favors the financial sector. I think we recall the consequences of a too-large financial sector.

-- Demonstrating a willingness to use new revenues to pay for current debts will send a signal that the US is (more) serious about deficit reduction.

The one downside of course is that Ryan is quite right that higher taxes do reduce overall economic activity. Given the weak economy, this may not be the time to raise taxes. However, there is no harm in agreeing now to raise taxes in the future, which seems to be what Obama is trying to do anyway.

you left out the main theme. Buffet was referring to his capital gains taxes not income tax he lives on capital gains., capital gains are made from income that has already been taxed once.. try again.

You are right Willow and if I'm not mistaken, those who suffered losses in the stock market crash, are not permitted to write off those losses. Investments are not the same as income. Buffett may have made a bundle; but more people lost. Does the left not understand that ordinary, middle class SENIORS, who have saved for their retirements are living off this "passive income". It's another example of trying to punish success.

 

[bripat9643]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

We're all sick of greedy useless parasites trying to get their hands on other people's money. My fair share of paying your bills is zero, bitch.

 

[Moonglow]

God, I am sick unto death of whiny ass millionaires and their minions. Quitcherbitchin, pay your fair share. Man up. Strap on a pair. Borrow the wife's, if you have to.

Fuckerbitches.

We're all sick of greedy useless parasites trying to get their hands on other people's money. My fair share of paying your bills is zero, bitch.

so u don't pay taxes?

 

[Missourian]

u r aware that Obama is volunteering a tax increase upon himself?

Uh...no, he's not.

As President, Obama earns $400,000 annually.

Unless his idea of millionaire is still $200,000, he is not increasing his own tax burden.

Of course, I imagine that Obama is still looking at people making $200,000 as "rich" since millionaires only account for .3 percent of taxpayers (according to the NY Times article I posted above) raising their taxes isn't going to accomplish much.

If that's the case, then yes, Obama is increasing his tax burden, but at the same time, he will be a full of crap and clueless...again.

 

[bripat9643]

Class warfare pure and simple.

"Class warfare" is used by the rich to describe the non-rich fighting back.

"Fighting back" from what, not getting enough loot from the people who earned it? What have the rich done to you aside from ignoring you?

 

[Moonglow]

u r aware that Obama is volunteering a tax increase upon himself?

Uh...no, he's not.

As President, Obama earns $400,000 annually.

Unless his idea of millionaire is still $200,000, he is not increasing his own tax burden.

Of course, I imagine that Obama is still looking at people making $200,000 as "rich" since millionaires only account for .3 percent of taxpayers (according to the NY Times article I posted above) raising their taxes isn't going to accomplish much.

If that's the case, then yes, Obama is increasing his tax burden, but at the same time, he will be a full of crap and clueless...again.

oh really!?

The Obama family earned $1.73 million last year, largely from sales of the president's books,

Obama's income drops, but the president is still a millionaire, tax returns show - Los Angeles Times